DWC has advised potential investors against issuing individual public statements on deals regarding their investments in the project, as the company will announce the full list of investors when the agreements are finalised.
Sultan Ahmad Bin Sulayem, Executive Chairman of Nakheel and Dubai Waterfront Company, said that with such a path-breaking and visionary project, it was essential to assess the credentials of potential investors very stringently. The final list would be drawn up after taking into consideration factors like innovative ideas, value addition, expertise and financial background of potential investors.
"Dubai Waterfront is the biggest of its kind in the world. The master plan is being developed with the objective of having investors from different fields so that we can make use of their collective expertise to achieve our goal of creating a developmental milestone and a new commercial hub for Dubai," said Bin Sulayem.
Dubai Waterfront is being developed as a new gateway to the emirate of Dubai. The first phase of DWC will mainly focus on developing Madinat Al Arab, which will be the heart of a vibrant new city. The centrepiece of the project will be Al Burj, one of the tallest buildings in the world. It is projected that Dubai Waterfront's population would reach 400,000 after completion of the entire project. The DWC forms the first phase of a bigger project called the Arabian Canal, which will have a length of 75 kilometers.
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Nakheel to finalise the list of investors who will own 49 per cent stake in Dubai Waterfront Company
- United Arab Emirates: Tuesday, March 15 - 2005 at 16:02
- PRESS RELEASE
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Nakheel has clarified that list of investors who will own 49 per cent stake in the Dubai Waterfront Company (DWC) is still being finalised and would be announced shortly.
Sultan Ahmad Bin Sulayem, Executive Chairman of Nakheel and Dubai Waterfront Company.
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Posted by Christine H. Andersen, Assistant News EditorTuesday, March 15 - 2005 at 16:02 UAE local time (GMT+4)
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About Dubai Waterfront
Dubai Water Front is an 81 million square metre beachfront mixed-use destination, encompassing over 250 best of breed master planned communities. It will comprise a balanced mix of residential, retail, hotel, office and industrial offerings, in addition to common areas that will be reserved for educational, cultural, health and recreational purposes. It is the world's largest waterfront development and is located 35 km south west of Dubai, bordering Abu Dhabi, on the last remaining coastal waterfront of the Emirate. Dubai Waterfront has been carefully crafted and developed by an international consortium of the world's best architects, planners and urban developers assembled by Nakheel in 2004, whose goal was to create a destination never before seen in Dubai, or the world. Dubai Waterfront forms the first phase of a larger effort, the Arabian Canal, a 75 km development envisioned by H.H. Sheikh Mohammed. It will serve as the primary entrance to the Arabian Canal, which ultimately will provide long-term waterfront investment opportunities.
About Nakheel
Nakheel is the uniquely focused property development company behind a variety of new landmark developments in Dubai. It aims to redefine the concept of property development whether residential, tourist, commercial or retail. Nakheel's portfolio currently includes The Palm, The World, Jumeirah Islands, The Gardens, The Gardens Shopping Mall, Jumeirah Lake Towers International City, Discovery Gardens, Lost City and Jumeirah Village
Orient Planet PR and Marketing Communications
P O Box 23345, Dubai, UAE.
Tel: 00 971 4 3988901; Fax: 00 971 4 3988941
Dubai Water Front is an 81 million square metre beachfront mixed-use destination, encompassing over 250 best of breed master planned communities. It will comprise a balanced mix of residential, retail, hotel, office and industrial offerings, in addition to common areas that will be reserved for educational, cultural, health and recreational purposes. It is the world's largest waterfront development and is located 35 km south west of Dubai, bordering Abu Dhabi, on the last remaining coastal waterfront of the Emirate. Dubai Waterfront has been carefully crafted and developed by an international consortium of the world's best architects, planners and urban developers assembled by Nakheel in 2004, whose goal was to create a destination never before seen in Dubai, or the world. Dubai Waterfront forms the first phase of a larger effort, the Arabian Canal, a 75 km development envisioned by H.H. Sheikh Mohammed. It will serve as the primary entrance to the Arabian Canal, which ultimately will provide long-term waterfront investment opportunities.
About Nakheel
Nakheel is the uniquely focused property development company behind a variety of new landmark developments in Dubai. It aims to redefine the concept of property development whether residential, tourist, commercial or retail. Nakheel's portfolio currently includes The Palm, The World, Jumeirah Islands, The Gardens, The Gardens Shopping Mall, Jumeirah Lake Towers International City, Discovery Gardens, Lost City and Jumeirah Village
Orient Planet PR and Marketing Communications
P O Box 23345, Dubai, UAE.
Tel: 00 971 4 3988901; Fax: 00 971 4 3988941
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